HAUPPAUGE, N.Y., Oct. 10, 2012 /PRNewswire/ -- TransFirst®, a leading provider of transaction processing services and payment enabling technologies, has acquired substantially all of the assets of CurveNorth Corporation, a California-headquartered developer of software solutions for the merchant processing industry.
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CurveNorth's flagship product is Merchant-Flo, software that automates workflow and eliminates paperwork requirements for merchant boarding. A prospective merchant's information is entered directly into the Merchant-Flo application — Merchant-Flo intuitively guides the application process using an advanced workflow system. An electronic signature completes the merchant's application, which is then electronically transmitted to the next round of the approval process. The software can be customized for specific security needs, rates and signature options, adding more flexibility to the merchant boarding experience. Additionally, Merchant-Flo includes merchant management and residual management capabilities. To date, more than 130,000 online applications have been processed using Merchant-Flo, with nearly 370,000 merchant accounts currently being managed.
"TransFirst expects to gain significant revenue-generation opportunities with this acquisition and the incorporation of Merchant-Flo into our suite of payment processing solutions," says John Shlonsky, president and CEO of TransFirst. "Taking ownership of CurveNorth gives us an outstanding opportunity to bring their highly experienced professional team to TransFirst, and Merchant-Flo will be an important part of our continuing mission to revolutionize the merchant boarding process."
"I believe the acquisition by TransFirst will benefit everyone involved," says Martin D. Weel, CurveNorth's president and CEO. "Independent sales organizations have documented 10 to 20 percent increases in sales that are attributed directly to the use of Merchant-Flo. It is a privilege to know that our team will be able to contribute to TransFirst's continuing growth while having the focus needed to have the best solution in the marketplace."
CurveNorth's employees will become employees of TransFirst and move into TransFirst's Cypress, California, facility; Weel will become a TransFirst director of operations.
About TransFirst (www.transfirst.com)
A leading provider of secure transaction processing services and payment enabling technologies, TransFirst offers innovative products and services designed with financial institution, independent sales organization, healthcare, e-commerce, government and merchant customers' unique needs in mind. By collaborating with our customers and utilizing strong industry knowledge, we help them grow their businesses. Founded in 1995, TransFirst continues to attain significant market share and world-class expertise in growing and profitable industry segments. Built on a platform of personal service, customer commitment and flexible pricing, TransFirst is headquartered in Hauppauge, New York, and has operations facilities in Aurora, Colorado; Broomfield, Colorado; Omaha, Nebraska; Overland Park, Kansas; Franklin, Tennessee; and Cypress, California; and executive headquarters in Dallas, Texas. Company-wide, TransFirst currently processes approximately $30 billion in annual sales volume for approximately 175,000 merchants and financial institution partners. For additional information, please call 800.745.2659 or visit www.TransFirst.com.
SOURCE TransFirst
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